Carrefour Chairman Resigns as U.S. Firm Takes Stake

PARIS -- Luc Vandervelde, chairman of international retailer Carrefour here, resigned Wednesday shortly after it was disclosed that two new investors, including a U.S.-based private equity group, had amassed a 10% stake in the company.

Mar 07, 2007

PARIS -- Luc Vandervelde, chairman of international retailer Carrefour here, resigned Wednesday shortly after it was disclosed that two new investors, including a U.S.-based private equity group, had amassed a 10% stake in the company. Robert Halley, a representative of Carrefour‘s largest shareholder, was nominated by the board to replace Vandervelde, the retailer said in a statement. Halley had been pressuring Vandervelde to resign, according to reports. The resignation was